I mean, honestly.... Newton's law of Gravity will apply here at sone point... Meanwhile the weekly calls go 2-5x on a given day if you BTFD and play 5min bull flags
Consider: Oct16'20 monthly OPEX and it'll pin somewhere? Earnings on Nov 3 - hard to think that after a run from $72 to almost $140 it will experience a pre-ER ramp.... Probably needs to cool off for that to happen Nov20' O/I seems to be gravitating around the 85S
200ma on 60min offers great support around 100
Daily 50ma and Weekly support levels come in around the 85-90 level
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Is that the last push?
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If that was the last push, we need to get and sustain action below the 200ma on 5min which has held this rally nicely for a month
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That 95-100 level looks very appealing... Does it tractor beam?
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Some perspective.....
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Similar pattern to the FSLY breakdown. Fist down day gave you "OMG its breaking!" moment to below the 200ma on 5min, rally back up with the underside tag building a bear flag and then look out below....
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Even with all the shitty action, it's still hasn't made a lower low on the daily!
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Closed for now for a small profit - had many strikes/expiries. Price action remains strong and RS to mkt overall is notable. Keeping a close eye as the volatility on PTON is still good for short term trdes.
Does it tractor beam?